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Live VIX Term Structure 9D · 30D · 3M · 6M

The complete CBOE volatility complex: VIX9D, VIX (30-day), VIX3M, VXMT (6-month), VVIX (vol of vol). Live contango/backwardation detection, regime classification (complacent / normal / elevated / high / panic), 30-day sparkline, and expected ±σ moves for the next 6 HIGH-impact events. Pro feature — 7-day free trial, no credit card.

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Built for professional traders

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Full Term Structure

Visual bars showing VIX9D (9-day), VIX (30-day), VIX3M (3-month), VXMT (6-month). Heights scale to relative IV. Color flips based on contango (green) vs backwardation (red).

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Regime Badge

Auto-classified: Complacent (<13), Normal (13–18), Elevated (18–25), High (25–35), Panic (35+). Color-coded with matching VIX spot color.

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30-Day Sparkline

SVG line chart of VIX last 30 trading days. Low/avg/high stats below. See regime shifts at a glance.

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Expected Moves Pre-Event

For the next 6 HIGH-impact events: ±σ in SPX points and percent. Computed from SPX × VIX/100 × √(days/365). Plan straddles, size stops, assess pre-event risk.

What is the VIX term structure

The VIX index represents the market's 30-day forward expected volatility, implied from S&P 500 options. CBOE publishes multiple VIX-style indices at different time horizons: VIX9D (9-day), VIX (30-day, the famous one), VIX3M (3-month), VXMT (6-month). Plotting all four together gives you the volatility term structure — a snapshot of how the options market prices uncertainty across time.

Contango vs Backwardation — calm vs stress

When the curve is upward sloping (short-end < long-end), the market is in contango: calm, vol sellers comfortable, no immediate stress priced in. When the curve inverts (short-end > long-end), the market is in backwardation: near-term stress, hedging demand spikes, often precedes or accompanies sharp sell-offs.

  • Contango: VIX9D < VIX < VIX3M < VXMT — normal regime, mean reversion bias
  • Mild backwardation: VIX9D > VIX — short-term jitters, event risk priced in
  • Strong backwardation: entire front of curve inverted — crisis pricing

Regime classification — five tiers, one badge

We map the VIX spot to a 5-tier regime classification used by professional options desks:

  • Complacent (<13): historically risky to be short vol; mean reversion likely
  • Normal (13–18): standard environment, vol-selling strategies profitable
  • Elevated (18–25): increased uncertainty; reduce position size
  • High (25–35): stress; defensive positioning warranted
  • Panic (35+): crisis pricing; historically tradable bottoms within weeks

VVIX — the vol of vol

VVIX measures the volatility of VIX itself — how nervous options traders are about VIX moves. Above 110 signals elevated tail-risk hedging (VIX call buying, S&P put protection); below 85 signals compressed conditions. We classify VVIX into the same 5 tiers as VIX and display both side-by-side. Divergences (e.g., VIX low but VVIX high) often precede regime changes.

Expected ±σ pre-event — size stops, plan straddles

For every HIGH-impact event in the next 7 days (CPI, NFP, FOMC, ECB), we compute the 1-standard-deviation expected SPX move from now until the event using the Black-Scholes formula: ±σ = SPX × VIX/100 × √(days/365). Result is shown in both points (±83 SPX pts) and percent (±1.10%). This is the move the options market is currently pricing — straddles trade at roughly this level. Use it to size stops, decide whether to enter pre-event, and assess whether vol is rich or cheap vs the realized historical move.

Common Questions

Where does the VIX data come from?

CBOE indices via Yahoo Finance free chart API. Refresh rate 60 seconds; Live mode 5 seconds.

Is the chart really free?

It's included in Trading News Terminal Pro (€40/month) with a 7-day free trial — no credit card required to start. The Basic free-forever tier shows only the VIX spot value, not the term structure or expected moves.

How is the regime classification done?

Heuristic based on VIX spot levels with the breakpoints noted above (13, 18, 25, 35). Calibrated against 30 years of VIX data — these are the levels professional vol traders use.

Can I see the expected move for tickers other than SPX?

Currently SPX only. Adding per-ticker IV30 (NVDA, TSLA, AAPL) is on the roadmap.

What's the difference between contango and backwardation?

Contango = upward curve (calm); Backwardation = inverted curve (stress). The bottom of the chart labels which one is active in real time, plus the 9D–30D and 3M–30D spreads in vol points.

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